Last night author Michael Ellsberg sat us down on the roof of the Hudson Terrace and told us something we didn’t want to hear.
“Student loans are the only kind of loan that you can’t default and declare bankruptcy on,” said Mr. Ellsberg, wearing a crushed-velvet red jacket, “It was necessary in our parents generation to go to college in order to get a good job…I can’t tell anyone not to go to school, but now that the cost of a B.A. can go up to $50,000 a year, unless you plan on getting a law degree or go into medicine, I think smarter kinds can find other ways to gain real world experience.”
Mr. Ellsberg, promoting his latest book The Education of Millionaires: It’s Not What You Think and It’s Not Too Late, sounded like one of those wall street protestors, but the scene at the Terrace couldn’t be more different than that at Liberty Plaza. Read More